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Roblox (RBLX) Stock Slides as Market Rises: Facts to Know Before You Trade
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The latest trading session saw Roblox (RBLX - Free Report) ending at $41.78, denoting a -1.18% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.57%. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq increased by 0.75%.
Heading into today, shares of the online gaming platform had gained 0.57% over the past month, lagging the Consumer Discretionary sector's gain of 1.02% and the S&P 500's gain of 3.4% in that time.
Investors will be eagerly watching for the performance of Roblox in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 7, 2024. It is anticipated that the company will report an EPS of -$0.57, marking a 18.75% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.06 billion, reflecting a 18.04% rise from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Roblox. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.23% lower. At present, Roblox boasts a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Roblox (RBLX) Stock Slides as Market Rises: Facts to Know Before You Trade
The latest trading session saw Roblox (RBLX - Free Report) ending at $41.78, denoting a -1.18% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.57%. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq increased by 0.75%.
Heading into today, shares of the online gaming platform had gained 0.57% over the past month, lagging the Consumer Discretionary sector's gain of 1.02% and the S&P 500's gain of 3.4% in that time.
Investors will be eagerly watching for the performance of Roblox in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 7, 2024. It is anticipated that the company will report an EPS of -$0.57, marking a 18.75% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.06 billion, reflecting a 18.04% rise from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Roblox. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.23% lower. At present, Roblox boasts a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.